Tech Mahindra bags multi-million euro project from Ahlstrom
Country’s fifth largest software services major Tech Mahindrahas bagged a multi-million euro agreement from Finnish firmAhlstrom to manage its IT operations.
Ahlstrom is a high performance fibre-based materials company with net sales from the continuing operations amounting to 1 billion euros in 2013. It has 3,500 employees serving customers in 24 countries.
As part of the deal, about 50 Ahlstrom IT employees globally are planned to move to Tech Mahindra under a business transfer agreement.
The multi-year, multi-million euro agreement will help Ahlstrom increase efficiency, harmonise service levels and lower IT costs, Tech Mahindra said in a statement.
The planned transfer of employees is expected to take place on December 1, 2014, subject to country specific conditions, it added.
“The arrangement will allow us to build more harmonised IT portfolio with a lower cost. In addition, it provides interesting career and professional development opportunities for the people being retained at Ahlstrom and for those being transferred to our alliance,” Kristiina Lammila, Vice President, Information Solutions, Ahlstrom said.
Tech Mahindra generates 31% of its revenues from Europe. It has a presence in 20 countries and employees over 2,900 professionals.
“Finland is a very important and strategic market for us. This agreement will help us provide a wide array of future opportunities for the Ahlstrom IT professionals globally while helping us with enabling our innovative service offerings for the customers in the region,” Rajesh Chandiramani, Head of Enterprise Business – Continental Europe, Tech Mahindra said.